The Energy Information Agency shocked the market by reporting that U.S. Crude supply increased by 6.7 million barrels putting supply at the highest level in 82 years. So much for that uptick in gasoline demand.

The oil market, already reeling from the weak jobs report, sold off more on fears that uncertainty in Europe will hurt demand. Perhaps more spending by France will help demand but at first glance, the market is not buying that argument.